由于该处理器专为 AI 训练而设计（这意味着要处理大量数据），因此预计该处理器将配备 HBM3 或 HBM3E 内存。考虑到我们正在处理定制处理器，Meta 定义了其支持的数据格式和指令，以优化 芯片尺寸、功耗和性能。至于性能，该加速器必须提供与 Nvidia 最新的 AI GPU（例如 H200、 B200 以及可能的下一代B300）相媲美的每瓦性能特性。 该芯片是 Meta 的 Meta 训练和推理加速器 (MTIA) 项目的最新成员。该项目曾面临各种挫折，包括 在类似阶段停止开发。 例如，在有限的部署测试中，Meta 内部推理处理器未能达到性能和功率目标，因此停产。这一失败 导致 Meta 在 2022 年改变了战略，大量订购 Nvidia GPU，以满足其即时的 AI 处理需求。 如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容 编译自tomshardware ，谢谢。 几年前，Meta 是首批为 AI 推理打造基于 RISC-V 的芯片的公司之一，旨在降低成本并减少对 Nvidia 的依赖。据路透社报道，该公司更进一步设计了（可能是在博通的帮助下）用于 AI 训练的 内部加速器。如果该芯片能够满 ...

Investment Rating - The report maintains an "Outperform" rating for the telecommunications industry, indicating an expected performance exceeding the benchmark index by more than 10% [1][38]. Core Insights - The launch of the AI agent platform Manus signifies a maturation of intelligent agent capabilities, with significant market interest and a rapid increase in computational token consumption [4][11]. - Manus is designed to integrate various capabilities, including planning, tool usage, and memory, which are essential for executing complex tasks and will lead to a substantial increase in computational demand [4][12]. - The report emphasizes that the domestic computational power sector is currently the largest investment theme, with recommendations to focus on companies benefiting from capital expenditures by CSPs and operators [5][13]. Summary by Sections Industry Investment Rating - The telecommunications industry is rated as "Outperform" with expectations of exceeding the benchmark index by over 10% [1][38]. Market Performance - The overall market saw an increase during the week of March 3 to March 9, 2025, with the Shenwan Communications Index rising by 2.81% and the STAR Market Index increasing by 2.67% [6][14]. Key Developments - The Manus AI platform has been released, showcasing advanced capabilities in handling various tasks, which has garnered significant attention in the market [4][11]. - The report highlights that the introduction of Manus will lead to a dramatic increase in the consumption of computational tokens, with a single task running cost estimated at approximately $2, significantly lower than previous models [4][12]. Investment Recommendations - The report suggests focusing on domestic computational power, particularly in sectors such as servers, switches, optical modules, and IDC infrastructure, which are expected to benefit from increased capital expenditures [5][13]. - It also recommends monitoring overseas computational sectors for innovations in NV technology and ASIC capital expenditures, especially with upcoming events like GTC2025 [5][14]. - Attention is drawn to edge AI applications, particularly in IoT modules and edge computing, as they align with privacy compliance requirements [5][14]. Notable Companies to Watch - Domestic computational power: Unisplendour, Ruijie Networks, Guangxun Technology, Huagong Technology, Guanghuan New Network, Aofei Data, Chaoxun Communication, Langwei Co [5][15]. - Overseas computational power: NewEase, Tianfu Communication, Zhongji Xuchuang, Taicheng Light, Guangku Technology, Dingtong Technology, Wolong Nuclear Materials [5][15]. - Edge AI: Guanghetong, Yiyuan Communication, Meige Intelligent, Yuntian Leifeng, Yinghantong, Tianzhun Technology, Heertai, Tuobang Co [5][15].

Investment Rating - The report maintains an "Overweight" rating for the industry, consistent with the previous rating [1]. Core Insights - The global first general-purpose AI agent, Manus, has entered internal testing, emphasizing independence and completeness in execution, accelerating the deployment of agents [5][7]. - Alibaba's DAMO Academy has launched the XuanTie RISC-V series chips, focusing on high performance and AI applications, with the highest performance processor C930 set to deliver in March [5][8]. - TSMC announced an additional investment of $100 billion in the U.S. to build five semiconductor factories, bringing its total investment to $165 billion [5][9]. Summary by Sections Weekly Overview - Manus, developed by the Chinese AI startup Monica, is designed to not only provide suggestions but also deliver complete task results, outperforming OpenAI's Deep Research in GAIA benchmark tests [7]. - The RISC-V architecture is gaining traction, with predictions that its market share will exceed 25% in various sectors, including consumer PCs and high-performance servers [8]. - TSMC's investment aims to alleviate geopolitical pressures and maintain a gross margin of over 53% [9]. Market Performance - The Hang Seng Index rose by 5.62%, and the Hang Seng Tech Index increased by 8.43% during the week from March 2 to March 8, 2025 [10]. AI Industry News - Tencent's Mixuan released an open-source video generation model, allowing users to create short videos from images [21]. - Alibaba introduced a new inference model, QwQ-32B, which outperforms existing benchmarks and is set to be open-sourced [22]. - OpenAI plans to launch a "PhD-level" AI agent with a subscription fee of up to $20,000 per month [21]. Investment Recommendations - Recommended stocks include NVIDIA (NVDA.US), TSMC (TSM.US), and Alibaba (9988.HK) among others, focusing on computing power, cloud services, and AI applications [23].

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自technews，谢谢。 报导提到Rapidus 最大不安因素，是目前没有足够客户需求。一旦开始生产，出货量将达到数亿 颗，但目前没有足够的客户需求作为支撑。目前先进半导体主要应用于智能手机或盛怒据中心服务 器处理器，但Rapidus 并未掌握这类客户。井上弘基质疑，「Rapidus 大量生产的芯片，究竟有谁 会购买？购买量又会有多少？」 台积电和三星电子开发先进半导体时，会事先与苹果、高通、英伟达等大型客户建立合作关系，确 保订单，并与客户步调一致地推进技术开发。这与Rapidus 的做法完全不同。客观来说，即使 Rapidus 成功建造最先进的产能基地，如果缺少买家，导致产能闲置，恐进而造成财务危机。 除了井上弘基负面看待日本对Rapidus 经营模式，过去日本政府和经济评论员古贺茂明也提到认为 目前Rapidus 失败的机率不断升高。 Rapidus 所需资金预估为5 万亿日圆，但来自民间投资的出资额为73 亿日圆，之后就再也没增 加，意味民间部门没人愿意接手这个专案。古贺茂明指出，虽然Rapidus 北海道千岁市工厂的开工 仪式，有许多企业高层助 ...

Domestic Economic Insights - China's February PMI data exceeded expectations, indicating a strong start to the domestic economy with a continued recovery trend[3] - The government set an economic growth target of around 5% for 2025, aligning with market expectations and boosting growth confidence[3] - The fiscal deficit rate is set at 4%, with a deficit scale of CNY 5.66 trillion, indicating a significant increase in government spending[3] - There are expectations for further monetary policy easing, including potential interest rate cuts, to support the stock market and real estate sector in the medium to long term[3] International Economic Concerns - The US February ISM manufacturing PMI reached 50.3, the highest since June 2022, while the non-manufacturing PMI was 53.5, above expectations[3] - The US job market showed signs of slowing, with non-farm payrolls increasing by 151,000, below the expected 160,000, and the unemployment rate holding steady at 4.1%[3] - The escalation of tariffs by the US on Chinese goods and potential tariffs on Mexico and Canada have raised concerns about a deteriorating economic outlook for the US, increasing expectations for three interest rate cuts by the Federal Reserve[3] Market Strategy Recommendations - Maintain a cautious bullish stance on the four major A-share index futures (IH/IF/IC/IM) in the short term[3] - Commodity markets should be observed cautiously, with a preference for precious metals due to increased safe-haven demand amid tariff escalations[3] - The overall ranking for investment strategy is: stock indices > commodities > government bonds[3] Risk Factors - Potential for unexpected tightening of monetary policy by the Federal Reserve[3] - Geopolitical risks, particularly related to US-China relations[3] - Escalation of the US-China trade conflict could further impact market sentiment[3]

Core Insights - The article discusses the history and key moments of TSMC, particularly focusing on its relationship with Nvidia and the evolution of the semiconductor industry under the leadership of Morris Chang [2][3][4]. Group 1: TSMC's Relationship with Nvidia - TSMC's relationship with Nvidia began in 1997 when Nvidia's CEO, Jensen Huang, reached out for manufacturing support, highlighting the importance of potential clients regardless of their size [3][4]. - At the time, Nvidia was a small company facing bankruptcy, while TSMC had already surpassed $1 billion in revenue [4][5]. - The partnership proved successful, with Nvidia becoming one of TSMC's major clients within a few years, significantly contributing to TSMC's growth [7][9]. Group 2: Challenges and Resolutions - In 2009, TSMC faced manufacturing and quality issues at the 40nm process node, which affected clients like Nvidia, leading to financial and operational challenges [10][12]. - Morris Chang returned as CEO to address these issues, emphasizing the importance of maintaining strong relationships with clients and resolving disputes amicably [12][25]. - A significant resolution occurred when TSMC proposed a settlement of over $100 million to Nvidia, which was accepted, reinforcing their long-term partnership [30][32]. Group 3: Strategic Decisions and Market Positioning - TSMC decided to invest heavily in the 28nm process node, which was seen as a pivotal moment for the company, coinciding with the rise of the smartphone market [34][42]. - The company set a research and development budget at 8% of revenue to ensure consistent innovation and competitiveness in the semiconductor industry [35][36]. - TSMC's strategic focus on advanced technology and market needs allowed it to maintain a leading position in the semiconductor manufacturing sector [42][43]. Group 4: Engagement with Apple - TSMC's relationship with Apple began when Apple sought TSMC's manufacturing capabilities, leading to discussions about economic terms and production timelines [60][62]. - The initial engagement with Apple highlighted TSMC's competitive edge in technology and manufacturing efficiency, which was crucial for securing Apple's business [63][66]. - TSMC faced challenges in meeting Apple's demands for new process nodes, but the company strategically managed its resources to accommodate these requests while maintaining its operational integrity [67][73].

Core Viewpoint - The article discusses the recent criticism of the CHIPS Act by former President Trump, which aims to reduce U.S. dependence on Asian semiconductor production and has garnered bipartisan support in Congress [1][2]. Summary by Sections CHIPS Act Overview - The CHIPS Act is a bipartisan law that allocates $50 billion to rebuild the U.S. semiconductor industry, which is crucial for various technologies [2]. - Following the signing of the act by President Biden in 2022, companies have identified new factory locations in states like Arizona, New York, and Ohio [2][3]. Trump's Criticism - Trump labeled the CHIPS Act as "very terrible" during a recent speech, which has raised concerns among semiconductor executives about potential funding retraction [1][2]. - Some Republican senators, including Todd Young, have sought clarification from the White House regarding Trump's comments, emphasizing the act's success [2][6]. Impact on the Semiconductor Industry - The Department of Commerce has already signed contracts providing over $36 billion in federal subsidies under the CHIPS Act, with major companies like Samsung, Intel, and TSMC committing to invest billions in U.S. chip manufacturing [7]. - Trump's proposal to replace incentives with tariffs could increase overseas production costs, potentially affecting TSMC's investment plans in Arizona [7][8]. Internal Changes in the Department of Commerce - Reports indicate that the Department of Commerce has dismissed 40 employees from the CHIPS office, nearly one-third of the team, and is considering changes to subsidy guidelines [5][6]. - The semiconductor industry association held a call to discuss Trump's remarks, attributing his criticism to personal animosity towards Biden [6]. Industry Sentiment - Despite concerns, many industry executives remain confident that their legal agreements with the Department of Commerce will not change [6]. - The article highlights the slow rollout of subsidies, which has frustrated some industry leaders, as the Biden administration took months to review projects after the act's enactment [8]. Conclusion - The CHIPS Act is viewed as a critical initiative for revitalizing U.S. semiconductor manufacturing, with bipartisan support despite recent political tensions [9].

行情速递 ① 主 板 领 涨 ， 湖 北 广 电 (+10.06%)/ 大 位 科 技 (+10.04%)/ 新 华 传 媒 (+10.03%)/ 长 江 通 信 (+10.01%)/宝明科技(+10.01%)/ ②创业板领涨，创业慧康(+20.03%)/天山电子(+9.97%)/隆扬电子(+9.41%)/ ③科创板领涨，南亚新材 (+17.55%)/和林微纳(+10.56%)/福立旺(+10.20%)/ ④ 活跃子行业，SW印制电路板(+1.86%)/SW大众出版(+1.40%)/ ③ 芯源微，发布关于持股5%以上股东拟通过公开征集转让方式协议转让公 司股份的提示性公告/沈阳芯源微电子设备股份有限公司（以下简称"公 司"或"芯源微"）持股 5%以上股东沈阳中科天盛自动化技术有限公司（以下 简称"中科天盛"）持有公司股份16,899,750 股，占公司总股本的 8.41%， 股份性质全部为无限售条件流通股 ④ 胜宏科技，发布2025年第一季度业绩预告/预计实现归属于上市公司股东 净利润盈利78,000 万元–98,000 万元/比上年同期增长272.12% - 367.54% 海外新闻 ① 艾邦VR产业资讯， ...

Core Viewpoint - TSMC's expansion of investment in the U.S. raises concerns about potential impacts on its operations in Taiwan, particularly regarding orders and production capacity [1][4]. Group 1: TSMC's U.S. Investment - TSMC announced a significant investment in the U.S., which has led to worries that it may affect its Taiwanese operations and orders [1]. - Former legislator Guo Zhengliang expressed concerns that if Apple starts purchasing chips directly from the U.S., TSMC's production in Taiwan may face reduced demand, potentially leading to fewer factories in Taiwan [1]. - TSMC's plans to build additional factories in Kaohsiung and Chiayi may also be impacted if new demand does not arise [1]. Group 2: Reactions from Industry Leaders - Hon Hai Chairman Terry Gou defended TSMC's decision, emphasizing the importance of TSMC's role in the global semiconductor ecosystem and dismissing claims that U.S. investments would deplete Taiwan's resources as exaggerated [2]. - TSMC's investment plans in the U.S. have been met with mixed reactions, with some local officials expressing concern about the impact on TSMC's ongoing projects in Taiwan [4]. Group 3: Legal Issues - TSMC is currently facing a lawsuit in the U.S. related to alleged discrimination, which has expanded to include multiple plaintiffs and serious accusations [6][7]. - The company has stated that it will not comment on ongoing litigation but expressed pride in its Arizona team and commitment to providing a safe and inclusive work environment [6].

如果您希望可以时常见面，欢迎标星收藏哦~ 参考链接 来源：内容 来自中时新闻网 ，谢谢。 川普上任后想废除拜登政府推动的527亿美元《芯片法案》补助，他抱怨该项计划浪费纳税人的 钱，建议把资金转用在减轻美国债务压力，但美国财经媒体撰文指出，如果《芯片法案》补助被撤 销，美国芯片市占率恐缩减至8%。 总部位于华府的「半导体行业协会」2024年估计，美国预计在2032年，将其所有类型芯片的制造 能力都提高至2倍，在全球芯片市占率可望从10%升至14%，但如果没有《芯片法案》，美国的芯 片市占率可能会缩减至8%。 分析《芯片法案》对美国半导体业的影响，若从纳税人角度来看，该法案代表一笔很大的支出，但 对半导体产业来说，这笔支出并不算大，主因在于，1家半导体公司1年的开支就足以消耗掉相当 多的资金，像台积电今年的资本支出预计将达380~420亿美元。 《芯片法案》是美国最大产业政策法条之一，目前逾85%的拨款，是在川普就任前敲定，包括将补 贴台厂台积电66亿美元。 报导认为，《芯片法案》为制造业项目提供25%的税收减免，对大多数企业来说，是最大的激励措 施，这些政策将使在美国建厂变得像在亚洲一样具有成本效益。 至于川 ...